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$740,000 For Sale

501 Reed St
Frankston, TX 75763



lot: 1.75 acres
Commercial: Commercial - MLS# 10103617
Property Photo
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Description

20 unit apartment available in Frankston for sale. The tenant base has been stabilized with a 90% plus occupancy over the last year as most units have been remodeled with new HVAC systems in majority. There are 2 buildings with 10 apartments each with over 15,000 sq ft of total living space. Each unit is 2 bedroom/1 bath, with 10 upstairs and 10 downstairs. Apartment demand has been excellent as vacancies are filled quickly and there is currently a waiting list for the next available unit. Financials available upon request in this stabilized Class C apartment complex with an excellent cash flow. The current off site manager is available to continue her excellent management job if the new owner desires to keep her in this role. There is room for additional apartments, self storage units, etc.

Features

  • # Buildings: 2
  • Acres Cleared %: 100
  • Building Description: Apartments
  • Ceiling Height: Under 10 Feet
  • Conditions: Owner-Agent
  • Construction: Brick Veneer, Siding
  • Cooling: Central Electric
  • County/Area: Anderson County
  • Eave Height: 20-25 Feet
  • Electric: Electric Available
  • Heating: Central Electric
  • Improvements: Miscellaneous Building(S)
  • Individually Metered Util: Individual Electric Meter
  • Lease Terms: 1 Year
  • Listing Status: Active
  • Location: Inside City Limits
  • Lot Dimensions: 1.75 acres
  • Lot Size: 1.7500
  • Master Metered Utilities: Individual Electric Meter
  • Parking: Off Street
  • Parking Spaces: 26-50
  • Property Type: Commercial
  • Road Surface (Interior): Asphalt
  • Road Type (Access): City/Town Road
  • Sale Includes: Building
  • Sewer: Public Sewer
  • Soil Type: Sandy Loam
  • Sub Type: Commercial
  • Tenant Pays: Electric, Cable
  • Topography: Level
  • Water: Community, Water Available
  • Year Built: 1980
  • Year Built Source: Anderson Cad
  • Zip Code: 75763
  • Zoning: Multi Family Dwelling

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Cameron Realty Inc.
1112 E. Goode St.    
Quitman, TX 75783 
903-763-2500 for buying and selling
Ricky@CameronRealty.net

Thank you for visiting today. If this is your first visit, take your time and look around. We have plenty of information and resources available to you. If you are a return visitor, thank you. We would love to hear from you and tell you how we can serve all your real estate needs.

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